Prospect Mortgage acquires assets of CapWest Mortgage #30 #yr #mortgage #rates


#capwest mortgage

#

Prospect Mortgage acquires assets of CapWest Mortgage

Sherman Oaks, California-based Prospect Mortgage announced Friday it is acquiring certain assets of CapWest Mortgage. a Kansas City-based call center operation focusing on consumer-direct sources of business.

Under the agreement, CapWest will operate as a separate division under Prospect Mortgage, and Monte Robbins, currently President of CapWest, will become a Prospect Divisional President responsible for the call center s growth and operations.

We believe CapWest s sophisticated call center operations and seasoned management team will provide Prospect with significant growth opportunities and an enhanced competitive advantage in the marketplace, said Prospect Chairman and CEO Mike Williams.

We are excited to have the CapWest team join the Prospect family and look forward to this acquisition creating long-term value for our employees, partners and investors, said Williams.

As a result, Prospect now has the resources to scale CapWest s lead sources and products. In addition, the acquisition will serve as a foundational component to leverage Prospect s existing consumer direct initiatives.

As we looked at the growth potential for CapWest, we knew it would eventually need a larger platform than our family-owned bank to truly scale. When Prospect Mortgage inquired and shared their vision for the utilization of the CapWest model, we saw tremendous upside potential for both CapWest and Farmers Bank, said W.R. Robbins, Chairman and CEO of Farmers Bank Trust.

This month in
Housing Wire magazine

The winners of our Insiders award are people who get things done, who are known throughout their companies as the “go-to” person in their department or division. They provide expertise in areas as diverse as operations, compliance and client services, but also have a reputation for going above and beyond their assigned roles to help out their colleagues, their companies and their clients.

Feature

In May of 2016 Airbnb had almost 1.4 listings on the site and raised its revenue projection for this year to more than $900 million. But the site impacts more than just hotel chains. As more investors, not just homeowners, use the site to rent out spare rooms — and even spare couches — it strains the supply of rental houses.

Commentary

A funny thing happened while the mortgage process became more automated. Rather than reduce human interaction, which some skeptics anticipated, automation technology is in fact having the opposite effect. It is enabling mortgage lending to become a people-first business once again.

HousingWire.com

HW Community

Company

Connect With Us


Leave a Reply

Your email address will not be published. Required fields are marked *